EXHIBIT 11
PEOPLES BANCORP INC. AND SUBSIDIARIES
Computation of Earnings Per Share
(dollars in thousands, except share data) For the Three For the Nine
Months Ended Months Ended
September 30, September 30,
1999 1998 1999 1998
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BASIC EARNINGS PER SHARE
EARNINGS:
Net income ........................................ $ 2,758 $ 2,096 $ 7,937 $ 7,272
AVERAGE SHARES OUTSTANDING:
Weighted average Common Shares outstanding ........ 6,148,492 6,315,498 6,247,907 6,322,345
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BASIC EARNINGS PER SHARE ................... $ 0.45 $ 0.33 $ 1.27 $ 1.15
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DILUTED EARNINGS PER SHARE
EARNINGS:
Net income ........................................ $ 2,758 $ 2,096 $ 7,937 $ 7,272
AVERAGE SHARES OUTSTANDING:
Weighted average Common Shares outstanding ........ 6,148,492 6,315,498 6,247,907 6,322,345
Net effect of the assumed exercise of stock options
based on the treasury stock method ........... 194,539 178,306 167,535 202,440
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Total ................................... 6,343,031 6,493,804 6,415,442 6,524,785
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DILUTED EARNINGS PER SHARE ................. $ 0.43 $ 0.32 $ 1.24 $ 1.11
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* Adjusted for 10% stock dividend issued June 15, 1999, to shareholders of
record as of May 28, 1999.